Tender to pick Mexico's new oil, gas marketer receives no bids

Reuters Staff

1 Min Read

MEXICO CITY (Reuters) - A tender to select an oil and gas marketer for the Mexican government’s share of output under new exploration and production contracts received no bids by a Monday deadline, the country’s oil regulator said.

As a result, the auction was declared void, the National Hydrocarbons Commission (CNH) said in a statement. It did not provide further details.

The commission said later tweeted that it would launch a new tender process for the potentially lucrative marketing rights “in the coming days.”

Prior to a 2013 constitutional reform that ended the decades-long energy monopoly enjoyed by state-run oil company Petróleos Mexicanos [PEMX.UL], known as Pemex, all of Mexico’s crude exports were marketed by the company’s commercial arm, P.M.I. Comercio Internacional.